Miles Guo Sentenced to 30 Years for $1.3B Fraud, Hundreds of Supporters Pack Court

Chinese fraudster Miles Guo, 57, was sentenced Monday to 30 years in federal prison for a $1.3 billion scheme that funded a yacht, mansions, and luxury goods.

Chinese Fraudster Miles Guo Gets 30-Year Prison Term for $1.3B Scheme

Miles Guo, 57, was sentenced Monday to 30 years in federal prison for orchestrating a $1.3 billion fraud that financed a $37 million yacht, a $26 million New Jersey mansion, a luxury apartment overlooking Central Park, and an assortment of extravagances including two $36,000 mattresses, according to authorities. NY Post Metro reports that more than 250 of the convicted fraudster's supporters packed the Manhattan federal courthouse — and two overflow rooms — to witness the sentencing.

Manhattan federal Judge Analisa Torres, handing down the sentence, said that "Mr. Guo intended to deceive his victims and take their money for his own financial gain." Torres also ordered Guo to forfeit $889 million in ill-gotten gains.

Before announcing the sentence, Torres condemned the "stunning breadth of Mr. Guo's fraudulent schemes" and noted that Guo had shown "no remorse for the harm he has caused for so many people."

A Fraud Built on Anti-Communist Messaging

A federal jury convicted Guo of racketeering conspiracy, fraud, and money laundering following a trial in July 2024. Prosecutors said Guo bilked thousands of supporters over a five-year span by leveraging an anti-Chinese Communist Party persona that attracted a large online following.

Guo had founded two nonprofits in 2018, presenting himself as a dissident critic of Beijing. Prosecutor Ryan Finkel told the court Monday that "Miles Guo did not lead a movement… he led a criminal enterprise, strengthened through violence, through threats, through fear."

More than 600 victims submitted written statements to the court ahead of sentencing, describing how Guo drew them into sham media and cryptocurrency ventures. Victim Wei Chen addressed the court directly, saying: "This fraud destroyed my life and my family." Chen had testified at Guo's trial that she is approximately $1 million in debt as a result of Guo's schemes.

Chaotic Courtroom Scene

The sentencing was delayed for hours after Guo claimed he had suffered a medical episode. Prosecutor Finkel told the court that Guo had asserted he fainted at the Metropolitan Detention Center early Monday morning, vomited blood, and was subsequently seen by a doctor before, as Guo described it, "a mysterious woman" transported him to the courthouse.

Wearing a tan jail outfit and gesticulating throughout his remarks, Guo delivered a meandering statement from the defense table without directly addressing the fraud charges. He told Judge Torres he intends to appeal the jury's verdict.

Supporters and Political Connections

Despite the sentence, Guo's following remained conspicuously present. Shawy Miles, 40, who said he left China in 2023 and now works as a package delivery driver in New York City, told NY Post Metro: "In China there are millions and millions who support Guo. He wanted to take down the Communist Party, that is why he is here. He is being set up. All the evidence was false. It's set up, it's a trap by the CCP!"

College professor Shu Pingfeng, 63, said he traveled from Marseille, France, to attend the hearing. "Miles is a hero! He is our hero. Our leader. He is trying to get freedom and democracy and rule of law for Chinese people in China," Pingfeng said.

One supporter briefly took the floor after falsely identifying herself to Judge Torres as a victim of Guo, declaring that "We are here to witness America's funeral." Torres cut her off, stating: "You are making a political statement unrelated to his various political conduct." The woman was escorted from the courtroom to scattered shouts and applause from spectators.

Guo also had notable political connections, including a reported friendship with former White House adviser Steve Bannon. Trump administration insiders told NY Post Metro last year that they feared Guo might seek a presidential pardon. No such pardon has been issued.

Source: NY Post Metro